2024-05-01 12:00:00 ET
Summary
- Stronger-than-anticipated economic data released during the first quarter led to a significant downward shift in market expectations for 2024 rate cuts.
- While equity markets were mostly unfazed by this change in expectations, fixed income markets experienced increased levels of volatility during the quarter.
- The exchange rate between the U.S. dollar and the Japanese yen hit a 34-year high.
Markets started the year anticipating several U.S. Federal Reserve (Fed) rate cuts in 2024, but by the end of the first quarter, a continued string of stronger-than-anticipated economic data readings led to a significant dialing-down of expectations....
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Quarterly Trading Report - Q1 2024: Changes In Rate Expectations